WASHINGTON (Sputnik) — The EIA anticipates US natural gas exports to continue to rise throughout 2017, as new facilities come online, including the Sabine Pass liquefaction plant, bordering the states of Texas and Louisiana, in the coming months.
“The United States will actually, by 2019, be a pretty big [LNG] exporter, relative to others in the global market,” Sieminski said on Tuesday. “But whether the growth will be sustained beyond that, it probably depends on what happens in the oil markets more than natural gas.”
The continued oversupply on the world energy markets and low natural gas prices in 2015 have raised questions about the viability of new LNG projects. EIA has documented the close correlation of oil and natural gas prices in recent years. According to its own estimates, the price of oil will likely remain below $50 per barrel over the short-term.